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I had a similar problem. I had a 52"
RCArear projection tv. It
would do this when I initially turned on the television, but then after a few
"on/off, on/off, on/off" cycles it would stay on. Eventually it
started doing it more; until finally there was a spark and that was it. The tv
was dead.The bloggers called it "the blinking green light of death" (because
of green light on the panel).The
power board is going out.ALSO holding down the Input and Menu buttons afterward will give you
some diagnostic information via 2 sets of blinking indicator lights.

You may very well
have issues with capacitors on this set being that it is or very similar to the
V26 chassis. Since I have spare test lamps laying around, I would normally try
that first. If the lamp still would not stay lit, I would then suspect the
electrical chassis (capacitors). When I suspect the chassis, I can usually
verify it by pulling it out and partially disassemble it and find blown capacitors

try accessing the self diagnosis feature by pressing both the menu and device/input button in together on the front of the set and hold for 6 seconds to see if the led will blink a two digit code such as two blinks slight pause then another series of blinks to indicate the second number then let me know the code and I will assist you.